Outstanding Value: OFX

CANSTAR has researched and rated 19 overseas money transfer providers, with OFX receiving a 5 star rating for outstanding value. Find out more about OFX

Transferring money overseas is a multi-billion dollar industry and for those who are transferring their hard-earned funds, finding an international money transfer provider that represents outstanding value is a must. In 2016 CANSTAR has researched and rated 19 overseas money transfer providers, with OFX achieving a 5 star rating.

Who is OFX

OFX was formerly known as OzForex and has been in operation for 17 years. A non-ADI (approved deposit institution), OFX advises that it facilitates approximately 3,250 transfers each day across 55 currencies, and offers 24/7 support for customers.

What international money transfer features are offered?

CANSTAR’s 2016 audit of the money transfer features offered by OFX, conducted in August and September 2016, uncovered the following online money transfer features offered by OFX:

Zero fees for transfers above $10,000 (otherwise AUD$15)

Transfers available by the following means:

Online

Mobile App

Phone

55 Currencies available, including:

US Dollar

Hong Kong Dollar

Great Britain Pound

New Zealand Dollar

Japanese Yen

Singapore Dollar

Euro

Indian Rupee

Swiss Franc

Transfer limits:

Min – $250

Max – Unlimited

Real-time exchange rates

24hr Telephone helpline

CURRENCY INFORMATION

TOTAL CURRENCIES AVAILABLE

55

United Arab Emirates Dirham (AED)

Yes

Canadian Dollar (CAD) available

Yes

Swiss Franc (CHF) available

Yes

Czech Republic Koruna (CZK) avail

Yes

Danish Krone (DKK) available

Yes

Euro (EUR) available

Yes

Fijian Dollar (FJD) available

Yes

British Pound Sterling (GBP) avail

Yes

Hong Kong Dollar (HKD) available

Yes

Hungary Forint (HUF) available

Yes

Indonesian Rupiah (IDR) available

Yes

Israel Shekel (ILS) available

Yes

India Rupee (INR) available

Yes

Japanese Yen (JPY) available

Yes

Kuwait Dinar (KWD) available

Yes

Sri Lanka Rupee (LKR) available

Yes

Mexico Peso (MXN) available

Yes

Malaysian Ringgit (MYR) available

Yes

Norwegian Krone (NOK) available

Yes

New Zealand Dollar (NZD) available

Yes

Oman Omani Rial (OMR) available

Yes

Papua New Guinea Kina (PGK) avail

Yes

Philippine Peso (PHP) available

Yes

Pakistan Rupee (PKR) available

Yes

Poland Zloty (PLN) available

Yes

Swedish Krona (SEK) available

Yes

Singapore Dollar (SGD) available

Yes

Thailand Baht (THB) available

Yes

Tonga Paanga (TOP) available

Yes

Turkey Lira (TRY) available

Yes

US Dollar (USD) available

Yes

South Korea (WON) available

Yes

Samoa Tala (WST) available

Yes

South African Rand (ZAR) available

Yes

Source: Canstar. Audit was conducted in August & September 2016 with information advised by OFX as being correct at that time. Please check current costs, features and offering on the OFX website.

OFX CANSTAR 5 star rating

OFX, formerly called OzForex, offers a very strong combination of both exchange rate competitiveness and comprehensive features. Operating for 17 years, OFX boasts the transfer of more than $100 billion worldwide, across 190 countries and 55 currencies.

2016 is the first time that non-ADI’s have been considered in CANSTAR’s International Money Transfer Star Rating. Non-ADIs (including OFX) that met the following requirements have been included in the rating:

Open to personal (not exclusive to business) customers.

Allow transfers above $15,000AUD.

Use traditional means to execute transaction (i.e. no peer-to-peer providers).

This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the product disclosure statement before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Statistics referenced on this page have been verified by Canstar Research. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917.